The End of Money: Take Power Back From the Money and Banking Monopoly

Alternet has just published another one of my articles, The End of Money: Take Power Back From the Money and Banking Monopoly.

The dysfunctional nature of the dominant global system of money and banking has for a long time been apparent to anyone who has cared to look at it. Now, in light of the present financial meltdown, it has become painfully obvious to virtually everyone. What most people have failed to recognize is that, regardless of the nominal form of their government, their political power has been neutralized and exhausted by the privatization and misallocation of credit money.

The political money and banking system disempowers communities and enables a small elite to use the present centralized control mechanisms to their own advantage and purpose. It misallocates credit, making it both scarce and expensive for the productive private sector while enabling central governments to circumvent, by deficit spending, the natural limits imposed by its above-board revenue streams. more..

2 responses to “The End of Money: Take Power Back From the Money and Banking Monopoly”

Suppose, however, there was no legal tender law, Also, suppose that the govt funded itself solely by printing money and spending it into circulation. All state employees were paid in state scrip, and all contractors as well. Would the scrip have any value?

I believe it would. In a depressed economy, state spending would be a significant portion of the economy. So long as the state printing press was used for real output, there would be no inflationary fear.

It would also be very handy. If the state got to be too large and obtrusive. the people would only have to discount the scrip to rein the govt in.

Nice article. I like your critique of the Greenbackers. I hadn’t thought of it before, but of course it is obvious that the problem of centralization of power would remain, not to mention deficit spending/inflation, call it the legal tender abuse paradigm. Monetary solutions (such as the Greenbackers) assume “our people” are in power, but the beauty of your solution is that it devolves power.

Archives

I have, of late, been attending Sunday services at Grace St. Paul’s Episcopal Church in Tucson. What that might say about my views on religion is something I’ll save for a later time, but among the things that have drawn … Continue reading →

In this recent interview below, Dr. Paul Craig Roberts describes the “house of cards” that is today’s global regime of money, banking and finance. Since the financial crisis of 2008, the major central banks around the world—the Federal Reserve, the … Continue reading →

How do you take a tragic story about deception, malfeasance, and betrayal at the highest levels of American government and turn it into a farcical comedy? Remarkably, that is precisely what has been achieved in the just released movie, American … Continue reading →

Pulitzer Prize-winning journalist, and former New York Times correspondent, Chris Hedges, is, to me, a credible source for real news. In a recent interview he had much to say that gives a clearer picture of the present state of geo-politics, … Continue reading →

Financial advisor Jim Rickards thinks so. In a recent article titled, The Global Elites’ Secret Plan for Cryptocurrencies, he says, “…the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, … Continue reading →

One of my correspondents, Irish financial advisor Christopher Quigley, recently sent me a link to his article, Civilizations Die by Suicide Not by Murder. In that article, he mentions famed historian Arnold Toynbee’s monumental work, A Study of History which describes the … Continue reading →

In this interview below Paul Craig Roberts describes the neo-conservative ideology that has driven geopolitics since the end of World War II, and discusses the elite agenda, the prospects for the Trump presidency, and the US economy. He comes closer … Continue reading →

This recent report on the popular TV show, CBS Sunday Morning, highlights the effectiveness of direct credit clearing among buyers and sellers of goods and services–a way of doing commerce without the need for money or banks. See also my … Continue reading →